{"id":50263,"date":"2025-03-07T03:28:42","date_gmt":"2025-03-07T03:28:42","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=50263"},"modified":"2025-03-07T03:28:42","modified_gmt":"2025-03-07T03:28:42","slug":"ethereum-price-retreats-will-it-find-support-or-drop-further","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=50263","title":{"rendered":"Ethereum Price Retreats\u2014Will It Find Support or Drop Further?"},"content":{"rendered":"

Ethereum price failed to clear the $2,320 resistance and trimmed gains. ETH is now consolidating and facing hurdles near the $2,220 resistance.<\/em><\/p>\n

Ethereum started a fresh upward move above the $2,120 support zone.
\nThe price is trading below $2,220 and the 100-hourly Simple Moving Average.
\nThere was a break below a key rising channel with support at $2,220 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must clear the $2,220 and $2,320 resistance levels to start a decent increase.<\/p>\n

Ethereum Price Dips Again<\/h2>\n

Ethereum price started a decent increase from the $2,000 zone, like Bitcoin<\/a>. ETH climbed above the $2,120 and $2,200 resistance levels. However, the bears were active near $2,320 and pushed the price back below $2,220.<\/p>\n

There was a break below a key rising channel with support at $2,220 on the hourly chart of ETH\/USD. A low was formed at $2,103 and the price is now attempting a recovery wave. There was a move above the $2,120 and $2,150 resistance levels.<\/p>\n

It cleared the 23.6% Fib retracement level of the downward move<\/a> from the $2,319 swing high to the $2,103 low. Ethereum price is now trading below $2,220 and the 100-hourly Simple Moving Average.<\/p>\n

On the upside, the price seems to be facing hurdles near the $2,220 level. It is close to the 50% Fib retracement level of the downward move from the $2,319 swing high to the $2,103 low. The next key resistance is near the $2,275 level.<\/p>\n

<\/a><\/p>\n

The first major resistance is near the $2,320 level. A clear move above the $2,320 resistance might send the price toward the $2,420 resistance. An upside break above the $2,420 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,500 resistance zone or even $2,550 in the near term.<\/p>\n

Another Drop In ETH?<\/h2>\n

If Ethereum fails to clear the $2,220 resistance, it could start another decline. Initial support on the downside is near the $2,100 level. The first major support sits near the $2,050 zone.<\/p>\n

A clear move below the $2,050 support might push the price toward the $2,000 support. Any more losses might send the price toward the $1,880 support level in the near term. The next key support sits at $1,740.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n

Major Support Level \u2013 $2,100<\/p>\n

Major Resistance Level \u2013 $2,220<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price failed to clear the $2,320 resistance and trimmed gains. ETH is now consolidating and facing hurdles near the $2,220 resistance. Ethereum started a fresh upward move above the $2,120 support zone. The price is trading below $2,220 and the 100-hourly Simple Moving Average. There was a break below a key rising channel with […]<\/p>\n","protected":false},"author":0,"featured_media":50264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-50263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/50263"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50263"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/50263\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/50264"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}